question archive The following partial balance sheet ($ in thousands) for Paisano Seafood Inc

The following partial balance sheet ($ in thousands) for Paisano Seafood Inc

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The following partial balance sheet ($ in thousands) for Paisano Seafood Inc. is shown below.

 

  Current assets:       Current liabilities:  
  Cash $ 74     Accounts payable $237
  Accounts receivable (net) 172     Other liabilities

76

  Notes receivable 61     Total current liabilities 313
  Inventories 216     Long-term liabilities

98

  Prepaid expenses

43

      Total liabilities

411

    Total current assets

566

    Shareholders' equity:  
  Plant assets (net)

265

    Capital stock 133
        Retained earnings

287

        Total shareholders' equity

420

  Total assets

$831

    Total liabilities and equity

$831

 

Quick assets total:

$74 thousand.

$307 thousand.

$246 thousand.

$350 thousand.

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Answer:

B. $307,000

Quick assets = Cash + Accounts receivable (net) + Notes receivable,

= $74,000 + $172,000 + $61,000

= $307,000